Australia's economy: is the lucky country running out of luck?

After 24 years of uninterrupted economic growth, Australia is entering the kind of difficult waters experienced by every other major developed country in the past decade.

IMF cuts US growth forecast as it urges minimum wage hike

The International Monetary Fund (IMF) has slashed its US growth forecast, urged policy makers to keep interest rates low and raise the minimum wage to strengthen its recovery.

Ukrainian currency hits 10-year low

Ukraine's currency, the hryvnia, has fallen to a new low of 10 to the US dollar. The currency's decline reflects political upheavals and longer-term persistent economic weakness.

IMF 'has confidence' in Christine Lagarde

The International Monetary Fund (IMF) has said it continues to have "confidence" in its managing director Christine Lagarde.

French economy shows zero growth in Q2: INSEE

PARIS: The French economy managed zero growth in the second quarter of 2012, data showed Tuesday, beating expectations it would begin a slide into recession.

Greece works on $14.1 bn in budget cuts promised to EU-IMF creditors

ATHENS: Senior Greek ministry officials were meeting on Friday to detail 11.5 billion euros ($14.1 billion) in budget cuts promised to EU-IMF creditors, a finance ministry source said.

Egypt election outcome makes economic challenge tougher

CAIRO (Reuters) - The success of two polarizing figures in Egypt's presidential election could make it harder to put in place an effective government that can tackle an economic crisis and secure vital foreign aid.

Euro on brink of collapse: IMF

LONDON: The crisis-hit euro is teetering on the brink of collapse, the International Monetary Fund (IMF) has said.

US, IMF welcome China's move on yuan trading band

The US and the IMF welcomed China's decision to widen the trading band on the nation's currency, while analysts downplayed Sunday the likelihood of wide swings in the value of the yuan.

Greece edges towards passing final debt swap hurdle needed for €130bn bailout

Greece has been edging towards a deal with its private-sector creditors as the hours ticked away towards Thursday's deadline for the agreement required to trigger a fresh €130bn bailout for its troubled economy.

EU says it may lend Egypt up to 500 mln euros

CAIRO (Reuters) - The European Union may be prepared to lend Egypt up to 500 million euros to help it finance a budget deficit provided it successfully concludes a financial assistance agreement with the IMF, an EU official said on Wednesday.

Nigerian anger heats up as petrol prices rocket

ABUJA (Reuters) - Nigerian motorists and unions vented their anger on Monday at a sudden more than doubling of fuel prices, a day after government subsidies were removed in a sweeping economic reform that could trigger mass protests.

Hungary borrowing costs rise on junk downgrade

The implied cost of borrowing for Hungary has risen after ratings agency Standard & Poor's (S&P) downgraded the country's debt to junk status.

Gold Prices Struggle to Stay Near $1, 700

Gold prices fell Wednesday on negative economic news from China and Europe plus concerns that the world's No. 1 economy is barely advancing.

How imminent is China's global economic dominance?

More and more people in the United States are increasingly concerned about, even obsessed with, the emerging global economic dominance of China, which is also regarded by many around the world as the most important single global economic issue.

White House, GOP Still Playing Chicken over Debt Ceiling; Pawlenty Slams Bachmann

Sessions: Lawmakers Will Need Time to Look at Any Deal
 
Senate Banking Committee ranking member Jeff Sessions echoed Treasury Secretary Timothy Geithner’s comments that while August 2 may be the nation’s default date, the time to make a deal on raising the debt ceiling is much sooner.

“We’re not just going to ratify some secret deal even if our good leaders plop it down on the floor of the Senate; we need at last seven days to review something as historic as this,” the Alabama Republican said on CBS’s Face the Nation.

Will China's rise lead to the decline of U.S.?

The International Monetary Fund (IMF) recently made a bold prediction that China will exceed the United States and become the world's largest economy as early as 2016 in terms of purchasing power parity. This prediction seems to add new evidence to the popular statements made by some western analysts who believe China's rise is the main cause for the decline of the United States.

Algeria-Morocco: Border Closure Hinders Security and Economy

The Maghreb is at the moment a particularly sensitive and fragile region, because of a distinctive combination of various security challenges, including “frozen” border disputes, which have in turn discouraged attempts at meaningful and effective regional integration. However, this situation is currently overshadowed and aggravated by a wave of pro-democracy protests that have hit, to various degrees, all countries of the region.